Sen. Donne E. Trotter

Filed: 5/28/2004

 

 


 

 


 
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1
AMENDMENT TO HOUSE BILL 944

2     AMENDMENT NO. ______. Amend House Bill 944 by replacing
3 everything after the enacting clause with the following:
 
4     "Section 5. The State Finance Act is amended by changing
5 Section 8h as follows:
 
6     (30 ILCS 105/8h)
7     Sec. 8h. Transfers to General Revenue Fund.
8 Notwithstanding any other State law to the contrary, the
9 Director of the Governor's Office of Management and Budget may
10 from time to time direct the State Treasurer and Comptroller to
11 transfer a specified sum from any fund held by the State
12 Treasurer to the General Revenue Fund in order to help defray
13 the State's operating costs for the fiscal year. The total
14 transfer under this Section from any fund in any fiscal year
15 shall not exceed the lesser of 8% of the revenues to be
16 deposited into the fund during that year or 25% of the
17 beginning balance in the fund. No transfer may be made from a
18 fund under this Section that would have the effect of reducing
19 the available balance in the fund to an amount less than the
20 amount remaining unexpended and unreserved from the total
21 appropriation from that fund for that fiscal year. This Section
22 does not apply to any funds that are restricted by federal law
23 to a specific use or to any funds in the Motor Fuel Tax Fund or
24 the Hospital Provider Fund. No transfers may be made under this

 

 

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1 Section from the Road Fund or the State Construction Account
2 Fund on or after the effective date of this amendatory Act of
3 the 93rd General Assembly. Notwithstanding any other provision
4 of this Section, the total transfer under this Section from the
5 Road Fund or the State Construction Account Fund shall not
6 exceed 5% of the revenues to be deposited into the fund during
7 that year.
8     In determining the available balance in a fund, the
9 Director of the Governor's Office of Management and Budget may
10 include receipts, transfers into the fund, and other resources
11 anticipated to be available in the fund in that fiscal year.
12     The State Treasurer and Comptroller shall transfer the
13 amounts designated under this Section as soon as may be
14 practicable after receiving the direction to transfer from the
15 Director of the Governor's Office of Management and Budget.
16 (Source: P.A. 93-32, eff. 6-20-03; 93-659, eff. 2-3-04.)
 
17     Section 10. The General Obligation Bond Act is amended by
18 changing Sections 2 and 4 as follows:
 
19     (30 ILCS 330/2)  (from Ch. 127, par. 652)
20     Sec. 2. Authorization for Bonds. The State of Illinois is
21 authorized to issue, sell and provide for the retirement of
22 General Obligation Bonds of the State of Illinois for the
23 categories and specific purposes expressed in Sections 2
24 through 8 of this Act, in the total amount of $29,658,149,369
25 $27,658,149,369.
26     The bonds authorized in this Section 2 and in Section 16 of
27 this Act are herein called "Bonds".
28     Of the total amount of Bonds authorized in this Act, up to
29 $2,200,000,000 in aggregate original principal amount may be
30 issued and sold in accordance with the Baccalaureate Savings
31 Act in the form of General Obligation College Savings Bonds.
32     Of the total amount of Bonds authorized in this Act, up to

 

 

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1 $300,000,000 in aggregate original principal amount may be
2 issued and sold in accordance with the Retirement Savings Act
3 in the form of General Obligation Retirement Savings Bonds.
4     Of the total amount of Bonds authorized in this Act, the
5 additional $10,000,000,000 authorized by this amendatory Act
6 of the 93rd General Assembly shall be used solely as provided
7 in Section 7.2.
8     The issuance and sale of Bonds pursuant to the General
9 Obligation Bond Act is an economical and efficient method of
10 financing the capital and general operating needs of the State.
11 This Act will permit the issuance of a multi-purpose General
12 Obligation Bond with uniform terms and features. This will not
13 only lower the cost of registration but also reduce the overall
14 cost of issuing debt by improving the marketability of Illinois
15 General Obligation Bonds.
16 (Source: P.A. 92-13, eff. 6-22-01; 92-596, eff. 6-28-02;
17 92-598, eff. 6-28-02; 93-2, eff. 4-7-03.)
 
18     (30 ILCS 330/4)  (from Ch. 127, par. 654)
19     Sec. 4. Transportation. The amount of $7,313,399,000
20 $5,313,399,000 is authorized for use by the Department of
21 Transportation for the specific purpose of promoting and
22 assuring rapid, efficient, and safe highway, air and mass
23 transportation for the inhabitants of the State by providing
24 monies, including the making of grants and loans, for the
25 acquisition, construction, reconstruction, extension and
26 improvement of the following transportation facilities and
27 equipment, and for the acquisition of real property and
28 interests in real property required or expected to be required
29 in connection therewith as follows:
30     (a) $5,432,129,000 $3,432,129,000 for State highways,
31 arterial highways, freeways, roads, bridges, structures
32 separating highways and railroads and roads, and bridges on
33 roads maintained by counties, municipalities, townships or

 

 

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1 road districts for the following specific purposes:
2         (1) $5,330,000,000 $3,330,000,000 for use statewide,
3         (2) $3,677,000 for use outside the Chicago urbanized
4     area,
5         (3) $7,543,000 for use within the Chicago urbanized
6     area,
7         (4) $13,060,600 for use within the City of Chicago,
8         (5) $58,987,500 for use within the counties of Cook,
9     DuPage, Kane, Lake, McHenry and Will, and
10         (6) $18,860,900 for use outside the counties of Cook,
11     DuPage, Kane, Lake, McHenry and Will.
12     (b) $1,529,670,000 for rail facilities and for mass transit
13 facilities, as defined in Section 2705-305 of the Department of
14 Transportation Law (20 ILCS 2705/2705-305), including rapid
15 transit, rail, bus and other equipment used in connection
16 therewith by the State or any unit of local government, special
17 transportation district, municipal corporation or other
18 corporation or public authority authorized to provide and
19 promote public transportation within the State or two or more
20 of the foregoing jointly, for the following specific purposes:
21         (1) $1,433,870,000 statewide,
22         (2) $83,350,000 for use within the counties of Cook,
23     DuPage, Kane, Lake, McHenry and Will,
24         (3) $12,450,000 for use outside the counties of Cook,
25     DuPage, Kane, Lake, McHenry and Will.
26     (c) $351,600,000 for airport or aviation facilities and any
27 equipment used in connection therewith, including engineering
28 and land acquisition costs, by the State or any unit of local
29 government, special transportation district, municipal
30 corporation or other corporation or public authority
31 authorized to provide public transportation within the State,
32 or two or more of the foregoing acting jointly, and for the
33 making of deposits into the Airport Land Loan Revolving Fund
34 for loans to public airport owners pursuant to the Illinois

 

 

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1 Aeronautics Act.
2 (Source: P.A. 91-39, eff. 6-15-99; 91-239, eff. 1-1-00; 91-712,
3 eff. 7-1-00; 92-13, eff. 6-22-01.)
 
4     Section 99. Effective date. This Act takes effect July 1,
5 2004.".